As managements grapple with the complex issues of building a dynamic enterprise risk management (ERM) process into the culture of their organizations, they typically find that outside expertise and tools are important ingredients for success. Identifying, measuring and understanding risks are just the first steps toward risk management and mitigation. Whether the initial impetus comes from the Board, regulators or rating agencies, managements that build ERM capabilities into their company’s core business planning and decision making processes will make more informed decisions, use capital more efficiently and enhance shareholder value over the long term.